Despite White House push, Fannie, Freddie are not lowering mortgage principles

05/14/2010 | CNNMoney

Fannie Mae and Freddie Mac are not reducing principles for holders of distressed mortgages, even as the White House mounts pressure on lenders to modify loans. The government-backed entities only consider interest rate reductions. In March, officials said they would require loan servicers to consider principle reductions.

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